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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Petra Diamonds Limited | LSE:PDL | London | Ordinary Share | BMG702782084 | ORD GBP0.0005 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 41.20 | 41.00 | 41.40 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPDL
RNS Number : 0443D
Petra Diamonds Limited
24 April 2017
24 April 2017 LSE: PDL
Petra Diamonds Limited
("Petra", "the Company" or "the Group")
Trading Update - Q3 FY 2017 Production and Sales Report
Petra Diamonds Limited announces the following trading update (unaudited) for the period from 1 January 2017 to 31 March 2017 (the "Period", "Q3 FY 2017" or "Q3").
HIGHLIGHTS
-- Production during the Period was flat at 999,768 carats (Q3 FY 2016: 995,905 carats), but ROM production for Q3 increased 18% to 760,916 carats (Q3 FY 2016: 646,850 carats) further to ROM grade improvements as a result of the ongoing ramp-up of underground expansion projects. Q3 tailings and open pit volumes were impacted by unseasonably high rainfall in both South Africa and Tanzania.
-- Production for nine months to 31 March 2017 up 15% to 3,014,856 carats (nine months to 31 March 2016: 2,625,308 carats). The Group maintains full year production guidance of ca. 4.4 Mcts.
-- Revenue down 1% to US$119.1 million, with no revenue from Exceptional Diamonds, (Q3 FY 2016: US$120.5 million, including US$15.0 million from Exceptional Diamonds). Excluding Exceptional Diamonds, revenue increased 13%.
-- Revenue for nine months to 31 March 2017 up 27% to US$347.6 million, including US$10.9 million from Exceptional Diamonds, (Q3 FY 2016: US$274.4 million, including US$25.0 million from Exceptional Diamonds). Excluding Exceptional Diamonds, revenue increased 35%.
-- Rough diamond prices up ca. 2% on a like-for-like basis in comparison to the average for H1 FY 2017.
-- Underground expansion programmes remain in line with expectations. Commissioning of the new Cullinan plant commenced towards the end of Q3 FY 2017, with initial production expected during May 2017 and full commissioning planned to be achieved by the end of Q4 FY 2017.
-- Cash at bank at 31 March 2017 of US$66.2 million (31 March 2016: US$39.0 million), diamond inventories of US$49.3 million (31 March 2016: US$54.3 million) and diamond debtors of US$37.9 million (31 March 2016: US$46.0 million).
-- Net debt at 31 March 2017 was US$508.4 million (31 March 2016: US$395.6 million); unrestricted cash and bank facilities of US$60.0 million (31 March 2016: US$140.9 million).
-- Post Period end, the Company announced the issuance of US$650 million of 7.25% senior secured second lien notes due 2022 (the "Notes Issue") and the redemption of the Group's US$300 million 8.25% senior secured second lien notes due 2020, issued in 2015 (the "Redemption"). Concurrent with the Notes Issue and the Redemption, the Group's debt facilities were amended and simplified, including through the repayment of all drawn bank debt and a reduction in total facilities, thereby rationalising the Company's capital structure.
Q3 FY 2017 Production and Sales - Summary
Hot Features
Premium
Unit Q3 Q3 Variance Nine months Nine months Variance
FY 2017 FY 2016 to 31 to 31
March March
2017 2016
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Production
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
ROM diamonds Carats 760,916 646,850 +18% 2,092,531 1,890,556 +11%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Tailings
& other
diamonds Carats 238,852 349,055 -32% 922,325 734,752 +26%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Total diamonds Carats 999,768 995,905 0% 3,014,856 2,625,308 +15%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Sales
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Diamonds
sold Carats 1,069,886 937,526 +14% 2,979,999 2,240,568 +33%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Gross revenue US$M 119.1 120.5 -1% 347.6 274.4 +27%
---------------- -------- ---------- --------- --------- ------------ ------------ ---------
Johan Dippenaar, Chief Executive Officer, commented:
"Further progress has been made with our expansion programmes during the Period, as evidenced by the higher ROM grades achieved as a consequence of the increased contribution from undiluted ore.
"The significant strengthening of the Company's balance sheet following the recent debt restructuring, as well as the positive signs we are seeing in the diamond market, position us well as we continue to ramp up production from our capital programmes."
CONFERENCE CALL
Petra's Chief Executive Officer, Johan Dippenaar, and Chief Financial Officer, Jacques Breytenbach will host a conference call at 9.30am and 4:00pm BST today to discuss the Q3 FY 2017 Trading Update with investors and analysts. Participants may join the calls by dialling one of the following numbers shortly before the call:
First Call - 9.30am BST
From the UK (toll free): 0808 237 0040
From South Africa (toll free): 0800 222 290
From the rest of the world: +44 203 428 1542
Participant passcode: 29125750#
A replay of the conference call will be available on the following numbers from 12:00pm BST on 24 April 2017:
From UK (toll free): 0808 237 0026
From South Africa and the rest of the world: +44 203 426 2807
Playback passcode: 686058#
Second Call - 4.00pm BST / 11.00am Eastern Time
This will be a Q&A call only to cater for international investors. Participants are therefore advised to listen to the replay of the earlier conference call in advance, as the main management commentary on the Trading Update and Guidance announcements will not be repeated.
From the United States (toll free): 1866 928 7517
From the rest of the world: +44 203 428 1542
From the UK (toll free): 0808 237 0040
From South Africa (toll free): 0800 222 290
Participant passcode: 29125750#
COMMENTARY
Production
-- Q3 FY 2017 production remained flat at 999,768 carats (Q3 FY 2016: 995,905 carats) following an 18% increase in ROM carats produced to 760,916 carats (Q3 FY 2016: 646,850 carats), offset by the guided drop in Finsch tailings production and the restriction of surface mining operations (tailings and Williamson's open pit ROM) due to unseasonably high rainfall experienced during the Period.
-- Finsch ROM production increased 23% to 468,429 carats (Q3 FY 2016: 381,266 carats) further to the increasing production from the newly established Block 5 SLC resulting in ROM grades significantly improving by 22% to 54.2 cpht (Q3 FY 2016: 44.3 cpht).
The shortfall in ROM tonnes mined compared to guidance relates to challenges associated with the allocation of equipment and work streams in the transitioning period as the old Block 4 is decommissioned and the Block 5 SLC ramps up. Production of ca. 900,000 tonnes of undiluted ore is now expected for FY 2017, which is marginally below guidance of ca. 1 Mtpa. The commissioning of additional mining equipment at the start of Q4 is expected to address the challenges mentioned above.
The planned reduction in tailings carats resulted in overall production decreasing by 1% to 522,515 carats (Q3 FY 2016: 530,138 carats), however we have increased tailings production to mitigate any shortfall in ROM tonnes mined, producing 1.4 Mt for the first nine months of FY 2017, above full year guidance of 1.3 Mt.
-- Cullinan production increased 20% to 227,523 carats (Q3 FY 2016: 190,329 carats) mainly due to a 23% increase in ROM carat production as the new C-Cut Phase 1 mining area continued to ramp-up as planned, with resultant improved ROM grades increasing by 26% to 38.4 cpht (Q3 FY 2016: 30.5 cpht). ROM production from the C-Cut is expected to reach ca. 1 Mt for full year FY 2017.
With construction of the new Cullinan plant nearing completion, commissioning commenced towards the end of Q3 FY 2017, focusing on the first of two mills as well as the electrical-, water- and slimes-handling infrastructure. Production through the old plant ceased in mid-April 2017 to facilitate the switch over to the new plant. The first ROM material will be processed through the new plant in May 2017 utilising the existing DMS and final recovery sections. The remainder of the new plant sections (the second mill, HPGR, large diamond recovery (XRL) and new final recovery sections) will be fully commissioned by the end of Q4 FY 2017. As previously reported, any untreated ROM stockpile material at Cullinan will be processed in H1 FY 2018, owing to the excess capacity of the new plant.
-- Koffiefontein's ROM production decreased 3% to 13,184 carats (Q3 FY 2016: 13,537 carats), impacted by a slower than anticipated start-up post the production shutdown in the previous quarter. Despite this disappointing performance, ROM production is expected to improve over the next two quarters to levels exceeding of 20,000 carats per quarter.
Due to the increased contribution of ore from undiluted areas, accessed by the newly established SLC, Koffiefontein's average price improved by 54% to US$652 per carat (Q3 FY 2016: US$424 per carat).
-- Kimberley Ekapa Mining's attributable production delivered 185,144 carats (Q3 FY 2016: 202,830 carats), with surface operations negatively impacted by rainfall. Treatment of underground ROM ore increased compared to previous quarters following the commissioning of the ROM crushing circuit in the Combined Treatment Plant, with a further increase in ROM throughput expected during Q4 FY 2017. Tailings grades of 11 cpht were achieved for the Period, above guidance of 9 - 10 cpht, due to the increased recovery of diamonds in the smaller size categories.
-- Williamson's diamond production decreased 9% to 51,402 carats (Q3 FY 2016: 56,232 carats) as the final stages of commissioning of the new mill section were undertaken. Unseasonably high rainfall during the Period adversely impacted both access to blasted ROM tonnes in the open pit and the handling and treatment of the resultant wet ore.
The newly commissioned mill section delivered a 22% increase in the ROM grade to 6.2 cpht (Q3 FY 2016: 5.1 cpht). The higher recovery of smaller diamonds resulted in a ca. 7% decrease in the mine's average price per carat excluding Exceptional Diamonds to US$236 (H1 FY 2017: US$253).
Sales and Diamond Market
Diamond Market
-- Signs of stabilisation in the rough diamond market are evident with steady demand across all size ranges, including goods which were previously impacted by Indian demonetisation.
-- We continue to witness further evidence of improving retail demand, with some encouraging trends in Mainland China, as well as narrowing declines in Hong Kong and Macau.
Petra Sales
-- Q3 FY 2017 Revenue down 1% to US$119.1 million, with no revenue from Exceptional Diamonds (Q3 FY 2016: US$120.5 million, including US$15.0 million from Exceptional Diamonds). Revenue for nine months to 31 March 2017 up 27% to US$347.6 million, including US$10.8 million from Exceptional Diamonds, (Q3 FY 2016: US$274.4 million, including US$25.0 million from Exceptional Diamonds).
Diamond Prices
-- Rough diamond prices were up ca. 2% for Q3 FY 2017 on a like-for-like basis in comparison to Petra's results for H1 FY 2017.
-- A further two tenders will be held during Q4 (April to June 2017) and Petra expects market conditions to remain stable during this time, with Q4 being traditionally Petra's strongest sales period.
Mine Actual(1) Actual(1) Guidance(2) Actual(1)
(US$/ct) (US$/ct) (US$/ct) (US$/ct)
Q3 FY 2017 9 months to FY 2017 FY 2016
31 March 2017
--------------- ----------- --------------- ----------- ---------
Finsch 99 98 100 - 105 89
--------------- ----------- --------------- ----------- ---------
Cullinan 98 115(3) 105 - 115 126(4)
--------------- ----------- --------------- ----------- ---------
Koffiefontein 652 535 520 - 550 462
--------------- ----------- --------------- ----------- ---------
KEM JV 94 94 125 - 130 132(5)
--------------- ----------- --------------- ----------- ---------
Williamson 236 278(6) 220 - 230 384(7)
--------------- ----------- --------------- ----------- ---------
Notes:
1. All sales (both ROM and tailings) including Exceptional Diamonds were used to calculate the average values.
2. Weighted average (ROM and tailings), Excluding Exceptional Diamonds. 3. Excluding Exceptional Diamonds, the average value per carat was US$106. 4. Excluding Exceptional Diamonds, the average value per carat was US$109.
5. The average value per carat for FY 2016 reflects the dilutive impact of combining tailings and ROM sales from H2 FY 2016 onwards.
6. Excluding Exceptional Diamonds, the average value per carat was US$247. 7. Excluding Exceptional Diamonds, the average value per carat was US$238.
Health and safety
-- The Group's lost time injury frequency rate ("LTIFR") for Q3 FY 2017 was 0.23 (Q3 FY 2016: 0.33). Petra remains highly focused on this most important area.
-- The Company notes with regret the fatality of an employee of a contracting company at Cullinan in an equipment-related incident following the Period end. This incident highlights the requirement for a further renewed focus on safety. Petra is committed to a zero harm policy.
Corporate
-- A summary of the Group's current cash, diamond inventories, debtors, borrowings and net debt is set out below.
Unit 31 Mar 31 Dec 30 Jun 31 Mar
2017 2016 2016 2016
--------------------- --------- ------------ ------------ ------------ ------------
Closing exchange R13.49:US$1 R13.73:US$1 R14.68:US$1 R14.76/US$1
rate used
for conversion
--------------------- --------- ------------ ------------ ------------ ------------
Cash at bank US$m 66.2 49.0 48.7 39.0
--------------------- --------- ------------ ------------ ------------ ------------
Diamond inventories US$m 49.3 56.6 43.6 54.3
Carats 602,891 673,031 549,620 721,259
------------------------------- ------------ ------------ ------------ ------------
Diamond debtors US$m 37.9 1.9 63.4 46.0
--------------------- --------- ------------ ------------ ------------ ------------
US$ loan notes
(including
accrued interest) US$m 308.2 302.1 302.0 308.2
--------------------- --------- ------------ ------------ ------------ ------------
Bank loans
and borrowings US$m 266.4 210.5 131.5 126.4
--------------------- --------- ------------ ------------ ------------ ------------
Net debt US$m 508.4 463.6 384.8 395.6
--------------------- --------- ------------ ------------ ------------ ------------
Bank facilities
undrawn and
available US$m 6.0 57.1 110.0 114.2
--------------------- --------- ------------ ------------ ------------ ------------
-- On 12 April 2017, the Group completed the issuance of US$650 million of new 7.25% senior secured second lien notes due 2022, and the redemption of the Group's US$300 million 8.25% senior secured second lien notes due 2020.
-- Following the simplification of the Company's debt structure at the time of the Notes Issue, the Company's total financing facilities now comprise US$650 million of notes and ZAR1,500 million of bank facilities (consisting of ZAR1,000 million revolving credit and ZAR500 million working capital).
-- The maintenance and distribution covenants for the bank facilities were renegotiated as part of the process and are shown below. The calculation of consolidated net debt now includes diamond debtors which were previously excluded.
Maintenance Covenants(1) Distribution Covenants
------------------- ----------------------------- -----------------------------
30 Jun 31 Dec 30 Jun 30 Jun 31 Dec 30 Jun
2017 2017 2018 and 2017 2017 2018
after and after
------------------- -------- ------- ---------- ------- ------- -----------
Consolidated
Net Debt(2)
: Consolidated
EBITDA 2.80:1 2.80:1 2.50:1 2.00:1 2.00:1 2.00:1
------------------- -------- ------- ---------- ------- ------- -----------
Consolidated
EBITDA:
Consolidated
Net Finance
Charges 3.50:1 3.85:1 4.00:1 6.00:1 6.00:1 6.00:1
------------------- -------- ------- ---------- ------- ------- -----------
Consolidated
Net Senior
Debt(3)
: Book Equity(4) 0.4:1 0.4:1 0.4:1 0.3:1 0.3:1 0.3:1
------------------- -------- ------- ---------- ------- ------- -----------
1. Covenant ratios will be measured semi-annually on a rolling twelve month period at 30 June and 31 December, respectively.
2. Consolidated net debt is loans and borrowings, less cash, less diamond debtors.
3. Consolidated Net Senior Debt means at any time the Consolidated Gross Debt (excluding any second lien and other subordinated debt).
4. Book Equity is Equity excluding accounting reserves.
Notes:
1. The following exchange rate has been used for this announcement: a. closing rate as at 31 March 2017 US$1:ZAR13.49 (31 March 2016 US$1:ZAR14.76) 2. The following definitions have been used in this announcement: a. ct: carat b. cpht: carats per hundred tonnes c. DMS: dense media separation d. Exceptional Diamonds: stones that sell for more than US$5 million each e. HPGR: high pressure grinding rolls f. LTIFR: lost time injury frequency rate
g. 'Other diamonds' includes mining of the Ebenhaezer satellite kimberlite pipe at Koffiefontein and alluvial diamond mining at Williamson.
h. Mcts: million carats i. Mt: million tonnes j. ROM: run-of-mine, i.e. relating to production from the primary orebody k. SLC: sub-level cave, a variation of block caving l. XRL: X-Ray Luminescence
3. Diamond inventory carrying values are stated at the lower of cost of production on the weighted average basis or estimated net realisable value.
Ends
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Cathy Malins cathy.malins@petradiamonds.com
Cornelia Grant cornelia.grant@petradiamonds.com
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse bobbym@buchanan.uk.com Anna Michniewicz annam@buchanan.uk.com
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has interests in five producing operations: three underground mines in South Africa (Finsch, Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint venture (including the Kimberley Underground mine and extensive tailings retreatment operations) and one open pit mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana.
Petra has a core objective to steadily increase annual production to ca. 5.3 million carats by FY 2019. The Group has a significant resource base in excess of 300 million carats.
Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.
APPIX - MINE BY MINE PRODUCTION TABLES
Finsch - South Africa
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017 FY 2016 months months
to 31 to 31
March March
2017 2016
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Sales
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Revenue US$M 52.1 53.1 -2% 151.5 128.3 +18%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Diamonds sold Carats 527,782 579,772 -9% 1,537,797 1,491,840 +3%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Average price
per carat US$ 99 92 +8% 98 86 +14%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
ROM Production
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 864,148 860,333 0% 2,362,597 2,516,589 -6%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 468,429 381,266 +23% 1,284,430 1,131,221 +14%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Grade cpht 54.2 44.3 +22% 54.4 45.0 +21%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Tailings Production
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 344,135 517,173 -34% 1,385,893 1,753,501 -21%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 54,086 148,871 -64% 269,645 493,996 -45%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Grade cpht 15.7 28.8 -46% 19.5 28.2 -31%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Total Production
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 1,208,283 1,377,506 -12% 3,748,490 4,270,090 -12%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 522,515 530,138 -1% 1,554,075 1,625,216 -4%
--------------------- -------- ---------- ---------- --------- ---------- ---------- ---------
Note:
1. The Company is not able to precisely measure the ROM / tailings grade split because ore from both sources is processed through the same plant; the Company therefore back-calculates the grade with reference to resource grades.
Cullinan - South Africa
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017 FY 2016 months months
to 31 to 31
March March
2017 2016
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Sales
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Revenue US$M 24.8 21.3 +16% 70.8 46.3 +53%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Diamonds sold Carats 251,391 217,134 +16% 614,504 444,893 +38%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Average price
per carat US$ 98 98 0% 115 104 +11%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
ROM Production
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 553,481 568,101 -3% 1,592,899 1,748,499 -9%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Diamonds produced Carats 212,545 173,061 +23% 571,366 476,461 +20%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Grade cpht 38.4 30.5 +26% 35.9 27.2 +32%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Tailings Production
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 177,653 235,667 -25% 437,484 632,825 -31%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Diamonds produced Carats 14,978 17,268 -15% 75,910 36,233 +110%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Grade cpht 8.4 7.3 +15% 17.4 5.7 +205%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Total Production
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 731,134 803,768 -9% 2,033,383 2,381,324 -15%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Diamonds produced Carats 227,523 190,329 +20% 647,277 512,694 +26%
--------------------- -------- --------- --------- --------- ---------- ---------- ---------
Koffiefontein - South Africa
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017 FY 2016 months months
to 31 to 31
March March
2017 2016
------------------- -------- --------- --------- --------- -------- -------- ---------
Sales
------------------- -------- --------- --------- --------- -------- -------- ---------
Revenue US$M 6.7 7.5 -11% 21.5 17.3 +24%
------------------- -------- --------- --------- --------- -------- -------- ---------
Diamonds sold Carats 10,315 17,623 -42% 40,103 39,191 +2%
------------------- -------- --------- --------- --------- -------- -------- ---------
Average price
per carat US$ 652 424 +54% 535 442 +21%
------------------- -------- --------- --------- --------- -------- -------- ---------
ROM Production
------------------- -------- --------- --------- --------- -------- -------- ---------
Tonnes treated Tonnes 183,790 183,366 0% 542,834 472,583 +15%
------------------- -------- --------- --------- --------- -------- -------- ---------
Diamonds produced Carats 13,184 13,537 -3% 37,954 38,377 -1% ------------------- -------- --------- --------- --------- -------- -------- --------- Grade cpht 7.2 7.4 -3% 7.0 8.1 -14% ------------------- -------- --------- --------- --------- -------- -------- --------- Ebenhaezer / Tailings Production ------------------- -------- --------- --------- --------- -------- -------- --------- Tonnes treated Tonnes - 108,677 -100% - 371,219 -100% ------------------- -------- --------- --------- --------- -------- -------- --------- Diamonds produced Carats - 2,839 -100% - 9,759 -100% ------------------- -------- --------- --------- --------- -------- -------- --------- Grade cpht - 2.6 -100% - 2.6 -100% ------------------- -------- --------- --------- --------- -------- -------- --------- Total Production ------------------- -------- --------- --------- --------- -------- -------- --------- Tonnes treated Tonnes 183,790 292,043 -37% 542,834 843,802 -36% ------------------- -------- --------- --------- --------- -------- -------- --------- Diamonds produced Carats 13,184 16,376 -20% 37,954 48,136 -21% ------------------- -------- --------- --------- --------- -------- -------- ---------
Kimberley Ekapa Mining - South Africa
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017(1) FY 2016(1) months months
to 31 to 31
March March
2017(1) 2016(2)
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Sales
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Revenue US$M 20.5 14.1 +45% 58.5 29.6 +98%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Diamonds sold Carats 217,761 85,301 +155% 624,427 146,414 +326%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Average price
per carat US$ 94 165 -43% 94 202 -53%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
ROM Production
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Tonnes treated Tonnes 134,304 198,348 -32% 343,602 681,458 -50%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Diamonds produced Carats 18,842 24,109 -22% 49,189 100,348 -51%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Grade cpht 14.0 12.2 +15% 14.3 14.7 -3%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Tailings Production
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Tonnes treated Tonnes 1,516,186 1,434,497 +6% 4,836,562 1,632,700 +196%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Diamonds produced Carats 166,302 178,721 -7% 568,128 186,839 +204%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Grade cpht 11.0 12.5 -12% 11.7 11.4 +3%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Total Production
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Tonnes treated Tonnes 1,650,490 1,632,845 +1% 5,180,164 2,314,158 +124%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Diamonds produced Carats 185,144 202,830 -9% 617,317 287,188 +115%
--------------------- -------- ------------ ------------ --------- ---------- ---------- ---------
Notes:
1. Data for the nine months ending 31 March 2017, Q3 FY 2017 and Q3 FY 2016 in the table above represent Petra's 75.9% attributable share in the KEM JV.
2. Data for the nine months ending 31 March 2016 in the table above represent production from Kimberley Underground ROM and Tailings production for the period 1 July 2015 to 17 January 2016 and Petra's 75.9% attributable production from the Combined Kimberley Operations for the period 18 January 2016 to 30 June 2016.
Williamson - Tanzania
Unit Q3 Q3 Variance Nine Nine Variance
FY 2017 FY 2016 months months
to 31 to 31
March March
2017 2016
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Sales
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Revenue US$M 14.8 24.2 -39% 45.4 53.6 -15%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Diamonds sold Carats 62,572 37,665 +66% 163,284 118,024 +38%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Average price
per carat US$ 236 642 -63% 278 455 -39%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
ROM Production
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 778,633 1,051,325 -26% 2,792,732 2,876,240 -3%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 47,916 53,445 -10% 149,592 142,717 +5%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Grade cpht 6.2 5.1 +22% 5.4 5.0 +8%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Alluvial Production
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 110,787 95,098 +17% 302,149 302,319 -0%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 3,486 2,787 +25% 8,641 9,356 -8%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Grade cpht 3.1 2.9 +7% 2.9 3.1 -7%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Total Production
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Tonnes treated Tonnes 889,420 1,146,423 -22% 3,094,881 3,178,559 -3%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
Diamonds produced Carats 51,402 56,232 -9% 158,233 152,073 +4%
--------------------- -------- --------- ---------- --------- ---------- ---------- ---------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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April 24, 2017 02:00 ET (06:00 GMT)
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